GM sees opportunity in partnering Indian carmaker

Friday, 11 January 2008, 18:47 IST
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New York: General Motors sees an opportunity for technology-based partnerships with Indian auto companies in future although no such discussions are underway as yet, said a top company official. "I don't rule it out, and I suspect over time there will be some opportunities there," the Detroit-based auto giant's chief executive Rick Wagoner said Tuesday in Las Vegas. He was speaking to reporters after addressing an electronics trade show, where he spoke about GM's efforts to develop alternatives to traditional gasoline-powered combustion engines. The comments on GM's interest in partnering an Indian carmaker came as its rival, Ford Motor, announced plans to invest $500 million in India to double manufacturing capacity in that fast-growing market. GM forecasts that global auto sales will grow from about 70 million vehicles in 2007 to 85 million on an industry-wide, annual basis over the next five years. Wagoner said that 80 percent of that increase - or 12 million new cars and trucks - will come from developing markets like India and China.
Source: IANS